DEALS: Take My Bank, Please

Take My Bank, Please

The man with the golden touch has struck it rich again -- or has he? Former Treasury Secretary William Simon reaped a $66 million profit when he and fellow investors acquired Gibson Greetings in 1982 and sold the card company back to public stockholders 16 months later. That windfall helped create the 1980s boom in leveraged buyouts and established Simon's reputation as a master of mouth-watering financial deals.

Simon now stands to pocket an estimated $20 million by selling First Interstate of Hawaii, which owns the state's fourth largest bank, to First Hawaiian, the second largest banking firm, for about $140...

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